Response to worrying trends in econophysics

Joseph McCauley ()

MPRA Paper from University Library of Munich, Germany

Abstract: This article is a response to the recent “Worrying Trends in Econophysics” critique written by four respected theoretical economists [1]. Two of the four have written books and papers that provide very useful critical analyses of the shortcomings of the standard textbook economic model, neo-classical economic theory [2,3] and have even endorsed my book [4]. Largely, their new paper reflects criticism that I have long made [4,5,6,7,] and that our group as a whole has more recently made [8]. But I differ with the authors on some of their criticism, and partly with their proposed remedy.

Keywords: General equilibrium; uncertainty; conservation laws; money nonconservation; nonintegrability of dynamical systems; financial markets; stochastic processes (search for similar items in EconPapers)
JEL-codes: A2 C0 D8 (search for similar items in EconPapers)
Date: 2006-05-29
New Economics Papers: this item is included in nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (36)

Published in Physica A 2.371(2006): pp. 601-609

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/2129/1/MPRA_paper_2129.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:2129

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().